KeyCorp (NYSE:KEY) Shares Acquired by KG&L Capital Management LLC

KG&L Capital Management LLC raised its stake in KeyCorp (NYSE:KEY - Free Report) by 27.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 95,962 shares of the financial services provider's stock after purchasing an additional 20,592 shares during the period. KG&L Capital Management LLC's holdings in KeyCorp were worth $1,534,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. increased its holdings in KeyCorp by 110.3% in the fourth quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider's stock valued at $26,000 after buying an additional 800 shares during the last quarter. Ethos Financial Group LLC bought a new position in KeyCorp during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in shares of KeyCorp in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. bought a new stake in shares of KeyCorp in the 4th quarter valued at approximately $34,000. Finally, FSC Wealth Advisors LLC bought a new stake in shares of KeyCorp in the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Stock Performance

KeyCorp stock traded up $0.08 during mid-day trading on Friday, hitting $17.23. 21,122,848 shares of the company's stock traded hands, compared to its average volume of 12,972,616. The firm has a 50 day moving average price of $15.81 and a 200 day moving average price of $16.33. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. The company has a market cap of $18.88 billion, a PE ratio of -101.35, a price-to-earnings-growth ratio of 0.64 and a beta of 1.09. KeyCorp has a one year low of $12.73 and a one year high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. During the same quarter in the previous year, the business earned $0.20 EPS. On average, equities analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend was Tuesday, May 27th. KeyCorp's payout ratio is currently -482.35%.

KeyCorp declared that its Board of Directors has initiated a share buyback program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI set a $17.00 price objective on shares of KeyCorp in a report on Monday, April 28th. JPMorgan Chase & Co. reduced their price target on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods lowered their price objective on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Citigroup reissued a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Finally, Cowen started coverage on KeyCorp in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.92.

Insider Activity

In other news, insider Amy G. Brady sold 19,000 shares of KeyCorp stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total transaction of $305,710.00. Following the transaction, the insider now directly owns 82,523 shares in the company, valued at approximately $1,327,795.07. This trade represents a 18.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mohit Ramani purchased 10,000 shares of the stock in a transaction dated Monday, April 21st. The shares were purchased at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the transaction, the insider now owns 10,000 shares in the company, valued at $137,500. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.52% of the stock is owned by insiders.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.